HONOLULU and LIHUE, Hawaii (12/6/12)--Two credit union mergers in Hawaii were announced this week.
Aloha Pacific FCU, Honolulu, will merge with Hawaii Stevedores/Castle & Cook Hawaii FCU, also of Honolulu. The credit unions this week announced they received approval to merge from the National Credit Union Administration.
Aloha FCU is the third-largest credit union in Hawaii. With the merger, it will have $730 million in assets and 41,000 members.
In the past five years, Aloha Pacific FCU has merged with Inter-Island FCU, First Insurance FCU, Word of Life FCU and Media Hawaii FCU.
Garden Island FCU, Lihue, Hawaii, with $17 million in assets, and the Koloa (Hawaii) FCU, with $71 million in assets, also announced their intention to merge.
Although the merger is not expected to be completed until April, Koloa FCU members can immediately begin using Garden Island services, according to the Garden Island FCU website.
All staff from Koloa FCU will remain with Garden Island FCU.